Wall Street Zen Downgrades American Resources (NASDAQ:AREC) to Sell

Key Points

• American Resources (NASDAQ:AREC) has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, amidst mixed analyst opinions.
• Despite the downgrade, other analysts have issued a "strong-buy" and two "buy" ratings, with an average price target of $5.00 for the stock.
• The company reported a significant earnings miss, with a quarterly EPS of ($0.10) compared to expected ($0.05), and revenues falling short at $0.01 million against a projected $16.40 million.

Wall Street Zen lowered shares of American Resources (NASDAQ:AREC - Free Report) from a hold rating to a sell rating in a research note published on Saturday morning.

A number of other equities research analysts have also weighed in on the stock. D. Boral Capital started coverage on shares of American Resources in a research note on Monday, September 15th. They set a "buy" rating and a $6.00 target price on the stock. D Boral Capital raised shares of American Resources to a "strong-buy" rating in a research note on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $5.00.

American Resources Trading Down 2.8%

Shares of AREC stock traded down $0.08 during mid-day trading on Friday, reaching $2.88. The stock had a trading volume of 678,761 shares, compared to its average volume of 3,520,769. The stock's 50-day moving average price is $1.72 and its two-hundred day moving average price is $1.10. American Resources has a 52-week low of $0.38 and a 52-week high of $3.09. The firm has a market capitalization of $243.51 million, a PE ratio of -5.81 and a beta of 1.01.

American Resources (NASDAQ:AREC - Get Free Report) last announced its earnings results on Tuesday, August 19th. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.05). The firm had revenue of $0.01 million for the quarter, compared to analysts' expectations of $16.40 million. On average, equities research analysts forecast that American Resources will post -0.38 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AREC. Creative Planning raised its holdings in shares of American Resources by 65.5% during the second quarter. Creative Planning now owns 37,892 shares of the company's stock valued at $31,000 after purchasing an additional 15,000 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of American Resources during the second quarter valued at approximately $33,000. Jane Street Group LLC raised its holdings in shares of American Resources by 84.5% during the fourth quarter. Jane Street Group LLC now owns 43,809 shares of the company's stock valued at $44,000 after purchasing an additional 20,070 shares during the last quarter. Virtu Financial LLC raised its holdings in shares of American Resources by 271.3% during the first quarter. Virtu Financial LLC now owns 101,913 shares of the company's stock valued at $48,000 after purchasing an additional 74,464 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of American Resources by 86,418.3% during the second quarter. JPMorgan Chase & Co. now owns 122,856 shares of the company's stock valued at $102,000 after purchasing an additional 122,714 shares during the last quarter. Institutional investors own 9.32% of the company's stock.

American Resources Company Profile

American Resources Corporation, together with its subsidiaries, extracts, processes, transports, and sells metallurgical coal to the steel and industrial industries. It supplies raw materials; and sells coal used in pulverized coal injections. The company was founded in 2006 and is headquartered in Fishers, Indiana.